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Archive for August, 2009

Atlanta’s EndoChoice nabs $7.5M to build out sales team

Monday, August 24th, 2009

ATLANTA – EndoChoice Inc., which sells gastrointestinal endoscopy products and services, has raised $7.5 million in a B round co-led by Council Ventures and the company’s A-round lead investor, River Cities Capital Funds.

The company says it will use the new funds to expand its existing U.S. sales team, Europe and Asia to accelerate its growth as it launches new products and services.

“The GI market has long suffered from a lack of innovation and high quality service,” said Grant Jackson, general partner at Council Ventures. “We are excited to be an investor in EndoChoice and to back an excellent management team with strong experience in GI as they bring needed innovation to the GI space.”

“EndoChoice has proven that there is significant need in the marketplace for their offering as evidenced by rapid growth, customer praise and industry accolades.” said Rik Vandevenne, principal, River Cities Capital Funds.

About 18 million procedures are performed in the U.S. for diagnosing and treating GI disorders each year.

Online: www.endochoice.com

Swedish Biotech firm moving HQ to Charlotte

Monday, August 24th, 2009

CHARLOTTE, NC – Biotage, a company that makes instruments and laboratory supplies for pharmaceutical, medical and academic research, is moving its headquarters to Charlotte, NC.

The company said it will move into a $15,000 square foot facility in October.

Biotage plans ot bring 25 to 30 employees to Charlotte and will hire from eigh to ten people in human resources, logistics and supply, customer service and inside sales.

Georgia-based Coaltex raising $5.5M

Monday, August 24th, 2009

TUCKER, GA – Coaltek, which transforms low-grade goal into “clean coal,” is raising $5.5 million, according to a regulatory filing.

According to the filing with the U.S. Securities and Exchange Commission, Coaltek intends to issuer $5.5 million in equity consisting of Series 1 Convertible Preferred Stock. It has initially issued $250,000 in Convertible Promissory Notes which will convert into Series 1 Convertible Preferred Stock.

Earlier this year, CEO Chris Poirer told Dow Jones’ Clean Technology Insight the company would seek a $50 million fourth round.

CoalTek, which presented at TechJournal South’s first annual Southeast Venture Conference in 2007, has raised more than $60 million in venture backing from investors who inlcude LIghtspeed Venture Partners, Warburg Pincus, Element Partners, Braemar Energy Partenrs, and Draper Fisher Jurvetson.

The CoalTek process converts low grade, “dirty” coal into high grade “clean coal” at a cost competitive with the highest quality raw coals.

The technology uses electromagnetic energy to reduce the moisture, ash, sulfur and mercury in coal and to make it burn more efficiently and cleanly.

The process was developed, tested, and proven over eight years by Dr. Jerry Weinberg, the company’s co-founder, along with chief geologist Neil Ginther.

Weinberg, an astrophysicist with achievement awards from NASA, used independent laboratories to confirm his findings. CoalTek Inc. owns and has patent-protected all the intellectual property for its technology.

CoalTek opened its first commercial processing facility in Calvert City, Kentucky in 2006.

CoalTek plans to build multiple facilities over the next few years.

Online: www.coaltek.com

NC IDEA accepting grant applictions

Monday, August 24th, 2009

RESEARCH TRIANGLE, NC – NC IDEA, which helps startup companies bridge the funding gap between public and private equity support has opened its eighth grant application cycle.

The NC IDEA Grants Program awards funding to between four and six firms based in North Carolina that are focused on information technology, medical devices and diagnostics, material sciences or green technologies.

Preference is given to those that have not received equity financing. Entrepreneurs who have not formed a company may apply, but company incorporation will be required prior to the award of grant funding.

Pre-proposal applications must be submitted online by Friday, September 18 at ncidea.org. Approximately 20 companies submitting “pre-proposal” submissions will be selected to participate in a subsequent full proposal submission and review period.

This process will include submission of a more comprehensive proposal and prioritized budget for use of grant proceeds.

A final round of applicant companies will be selected to present their proposal to a NC IDEA Grants Program advisory committee comprised of entrepreneurs and early-stage business advisors. Grant recipients will be notified in December.

Online: www.ncidea.org

Canaan Partners led $7M Liquidia funding

Monday, August 24th, 2009

MORRISVILLE, NC – Canaan Partners led the $7 million Liquidia funding TechJournal South reported Aug. 3 (http://bit.ly/rmIvl), joined by Pappas Ventures and existing investors New Enterprise Associates and Firelake Capital, according to PE Hub.

The Wakefield Group, which led the companys $6 million first round in 2006, did not participate, the site reports.

Based on the work of company founder Professor Joseph DeSimone, Chancellor’s Eminent Professor of Chemistry at the University of North Carolina-
Chapel Hill, Liquidia’s nanotechnology platform is called PRINT (Particle Replication In Non-wetting Templates).

It is a platform technology that allows mass production of precisely and uniformly sized micro- and nanoparticles.

The company has already inked partnerships with several pharmaceutical firms, including Abbott Labs, which plans to develop a way to deliver drugs with the Liquidia technology.

Liquidia expects its first product, a vaccine, will enter clinical trials in late 2010.

Online: www.liquidia.com

Accused credit card hacker lived the high life in Miami

Monday, August 24th, 2009

By TAMARA LUSH
Associated Press Writer

MIAMI BEACH, Florida (AP) – Nestled near a row of sultry, silvery-green palm trees and an infinity pool, room 1508 at the National Hotel on South Beach is a portrait of Art Deco luxury. It is also where, on May 7, 2008, federal agents seized two computers, $22,000 in cash and a Glock 9 gun from a man known on the Internet as “soupnazi.”

His real name is Albert Gonzalez, and he was with his girlfriend when federal agents arrived. Just as the setting was not run-of-the-mill, neither was the arrest. Gonzalez was charged with hacking into business computer networks and stealing credit and debit card accounts – and in an embarrassing twist, he had once been an informant for the U.S. Secret Service.

This week, Gonzalez, 28, was indicted in New Jersey on more federal charges. Now the biggest credit card hacks of the decade – totaling 170 million accounts – have been pinned on Gonzalez.

Industry analysts marveled at the scope of the operation – which Gonzalez allegedly dubbed “Get Rich or Die Tryin’.” One compared it to a hackers’ version of the 1980s gangster movie “Scarface.”

“Albert Gonzalez is definitely the Tony Montana of credit card theft,” said Sean Arries, a computer security expert at the Miami-based Internet technology company Terremark.

Gonzalez has been in custody since his 2008 arrest in Miami Beach. He awaits federal trials in New York and Massachusetts, along with the New Jersey charges. If convicted he faces life in prison.

Gonzalez’s lawyer, Rene Palomino Jr., wouldn’t address the charges in detail, saying that the case is in a “very delicate stage” and that Gonzalez is trying to resolve it. The attorney said Gonzalez and federal prosecutors were close to reaching a plea deal in the New York and Massachusetts cases this week, before the New Jersey indictment was added.

People who know Gonzalez say he is a nerdy, shy man who got mixed up in a shadowy world.

“Albert is not a mean-spirited individual, he desires no physical harm on anybody and he wouldn’t hurt a fly,” said Palomino, who first met his client when Gonzalez was an 8-year-old altar boy. “He’s really not a bad guy. He just got way in over his head.”

Gonzalez’s father, Alberto, came to the U.S. from Cuba on a handmade raft in the 1970s, Palomino said. The elder Gonzalez, who was a landscaper, got married and had a daughter before Albert was born in June 1981. The family put down roots in a modest, tan stucco home bought for $54,000 in a working-class enclave southwest of Miami’s downtown.

“As a little kid, he was nice, we used to play hide-and-go seek,” said neighbor Vanessa Pedrianes, 25. “When he got older, he was a little bit nerdier than the other kids. He was really smart.”

Gonzalez’s parents bought him a computer when he was 8, said Palomino, who was in charge of Gonzalez’s Lutheran youth group. When the computer got a virus, Palomino said, the boy was so angry that he set out to learn everything about his machine.

“The kid is a self-taught genius,” Palomino said. “Albert never had a normal childhood. He had no friends. His best friend was his computer. He would spend hours on the computer.”

Gonzalez never took a computer class in high school, Palomino said. The boy also didn’t go to college. As a teenager, he had a minor brush with the law – a marijuana possession charge in 1999 was dismissed – but his computer savvy allowed him to get a job at a New Jersey firm right out of high school, Palomino said, though he didn’t elaborate on what the position was.

It’s unclear what transpired between the time Gonzalez got that job and his first federal arrest. In 2003, Gonzalez was arrested for hacking but not charged because authorities said he became an informant, helping the Secret Service hunt other hackers.

Palomino said Gonzalez should have gotten therapy then for what he says was a computer “addiction” – but that authorities used him like a machine to ferret out hackers.

Yet over the next five years, authorities said, Gonzalez continued to hack into the computer systems of Fortune 500 companies even while providing assistance to the government. A judge allowed him to move from New Jersey back to Florida in 2004, and court documents alleged that Gonzalez hacked the computer network of the national restaurant chain Dave & Buster’s.

He lived lavishly from the proceeds, court records show. Gonzalez threw a $75,000 birthday party for himself, complained that he had to count $340,000 in 20-dollar bills by hand because his money counter broke and considered investing in a nightclub.

In 2005, Gonzalez bought a one-bedroom condo for $118,000 near his parents, in a squat, three-story building populated with retirees and recent immigrants. Whether Gonzalez actually lived there is a mystery – no one in the building remembers seeing him.

Around that time, federal agents said, Gonzalez devised a sophisticated attack to penetrate computer networks, steal credit and debit card data, and send that information to computer servers in California, Illinois, Latvia, the Netherlands and Ukraine.

The Justice Department said Gonzalez and others used that attack to mine companies’ computers for approximately 40 million credit card numbers. At the time, that was believed to be the biggest such theft ever, and punctured the electronic defenses of such retailers as T.J. Maxx, Barnes & Noble, Sports Authority and OfficeMax.

Prosecutors allege Gonzalez was the ringleader of the hackers in that case.

One of their techniques apparently involved “wardriving,” or cruising through different areas with a laptop computer and looking for retailers’ accessible wireless Internet signals. Once they located a vulnerable network, the hackers installed “sniffer programs” that captured credit and debit card numbers as they moved through a retailer’s processing computers _ then tried to sell the data.

In the latest indictment, authorities say Gonzalez and two Russian conspirators used a different technique to hack into corporate networks and secretly place “malware,” or malicious software, that would allow them backdoor access to the networks to steal data later.

James Lewis, a senior fellow at the Center for Strategic and International Studies, points out that if Gonzalez’s co-defendants are in or near Russia, where capturing or extraditing them is difficult, he is the only one of them likely to face trial.

“It’s relatively common in these crimes for the masterminds to live overseas and have a partner in the United States,” said Lewis. “At the end of the day, Gonzalez was the bagman.”

These days, Gonzalez is in a Brooklyn jail. He has access to a computer only when his lawyer visits, to review evidence for his trial.

___

Florida-based social media integrator Yovia and SourceFuse merge

Friday, August 21st, 2009

ATLANTIC BEACH, FL – social media integrator Yovia and high-technology research and development firm SourceFuse are merging.

The company’s say the merger is a strategic move to capitalize on a growing demand for Yovia’s ‘ad network of people’ and SourceFuse’s rapid crowd-source and open-source technology platforms.

The firms have been working together for 18 months as part of an ongoing project to optimize online marketing and rapid product development and testing, for organizations such as the U.S. Government, top entertainment networks and large traditional publishers.

They recently released Yovia 2.0, the first community-driven advertising network.

“Frankly, we are trying to keep up with the growth,” said Jalali Hartman, CEO of Yovia.

“We need to be able to set-up and drive large-scale communities quickly and communicate in a real way with millions of people. This requires the use of crowd-sourcing and rapid deployment of open source technology.”

The new company now employs 62 people, and has offices in New York, Delhi and Florida.

Online: www.yovia.com; www.sourcefuse.com

The Internet is where the action is for sports teams

Friday, August 21st, 2009

By Allan Maurer
PHOENIX, AZ—Bringing team sports information and fans together on the Internet is where the action is for professional teams and it’s becoming a lot more than just sitting in front of your computer. So says Jeramie McPeek, VP Digital, Phoenix Suns, who directs the popular NBA team’s eight Web sites and 12 different social networking channels.

Under McPeek’s direction, Suns.com has twice been named the top team site in the NBA and received the Website of the Year Award from the NBA in 2007. McPeek, who has also written nearly 1,000 articles published in national magazines, is one of 75 experts, executives and entrepreneurs participating in TechJournal South’s second annual Internet Summit Nov. 4-5 at the Raleigh Convention Center (see: www.InternetSummit.com for more information or to register).

McPeek says the Phoenix Suns’ Web sites are “growing exponentially every basketball season.” but pushed in part by social the presence, until June of Shaquille O’Neal, and Steve Nash, it saw its gained 13,000 Twitter followers in the offseason this year, going from 3,200 in April to about 16,000 now. The Suns also have 50,000 fans on Facebook and 13,000 on Planet Orange.

Visitors to the Suns’ online sites dipped slightly last season as the team missed the playoffs for the first time in quite a while, going from about 60 million to 45 million page views.

McPeek’s seven person digital team stays very busy, although it’s the largest digital team in pro sports, he says. In addition to the Web sites and social networks, they produce email newsletters, and a text alert program. “It’s a challenge to be everywhere at once and do everything at the level we want to,’ McPeek admits.

“We don’t want things to get stale for lack of updates and we don’t want to be too repetitive,” he adds.

What they do want to do is provide fans with something different than they can get from the local newspaper or late night TV news, says McPeek.

“We have beat reporters who go to every game and post game videos and get player reactions. At key times, such as All Star games or playoffs, we have a Web team traveling with the Suns on the road. They stay at the same hotel, go to practices closed to the rest of the media, get unique photos and provide great access that fans can’t get anywhere else.”

McPeek says the digital team is looking at finding more ways to do its job better, and that includes making Suns’ games more interactive for fans, both those in the arena and those watching on TV at home.

“We’re planning to pull in moderated Twitter streams as games go on and display them on the big screen in the arena and on a scroll at the bottom of the TV broadcast.” Fans will also be able to text comments and their choices for most valuable player via the Suns’ Web site.

The site also carries a game play-by-play and a chatbox where fans can talk to the courtside reporter. The idea is to “Make the Web site a second screen to the TV, so fans can have their laptop open and read comments and stats while watching.”

Not too long down the road, McPeek says, he expects they’ll even be doing both on the same screen as media convergence becomes a reality.

Online: www.nba.com/suns

Report says: more small and mid-sized businesses advertising online

Friday, August 21st, 2009

CHANTILLY, VA – For the first time, the penetration of digital/online media has exceeded that of traditional media among small and medium-sized business advertisers, according to The Kelsey Group, a division of BIA Advisory Services.

Findings from the latest wave of BIA/Kelsey’s Local Commerce Monitor study, conducted with research partner ConStat, indicate the penetration of digital/online media increased from 73 percent in August 2008 to 77 percent in August 2009.

Traditional media penetration decreased from 74 percent to 69 percent during the same period. Penetration is defined as the percentage of SMBs using a given type of media, irrespective of spending level.

“We have been tracking the trend of digital/online media replacing traditional media over four waves of the Local Commerce Monitor study,” said Steve Marshall, director of research, The Kelsey Group. “The milestone of digital/online surpassing traditional media among SMBs is an indicator of the broad shift to online platforms.”

According to the study, there has also been an increase in the proportion of SMBs that use the Internet to track or measure their sources of new business leads. Of businesses that track lead sources, the percentage that does so using the Internet (clicks or e-mails) has increased from 22 percent in 2008 to 30 percent in 2009.

Online: www.kelseygroup.com; www.bia.com

Tiny URL companies to archive link data

Friday, August 21st, 2009

SAN FRANCISCO (AP) – The growing popularity of Web-address shortening services like bit.ly creates the potential for a bevy of broken links should one of the providers suddenly cease operations.

Those providers are now teaming up with data aggregation and syndication services company Gnip Inc. to form a system for archiving link data. That way, the links would keep working, even if the shortening service itself doesn’t.

The development comes less than a week after link snipper tr.im decided to cease operations – though it later reversed course.

These services convert super-long Web addresses into a handful of characters. That helps prevent those addresses from breaking into multiple lines when used in e-mails, news stories and other places. It also helps users stay within the 140-character limit on Twitter.

Called 301works _ 301 is the server code for a redirect – the service is expected to launch in several weeks, Gnip said. Members will periodically submit lists of the original Web addresses that users shorten through their sites, along with the corresponding shrunken links they create, so the information can be stored.

Boulder, Colo.-based Gnip is footing the bill for now, and it will run and manage it. Participants are going to pick a nonprofit organization to manage the directory in the long term, Gnip said.

Shane Pearson, Gnip’s vice president of products, said some participants will make their data publicly available, while others will just use 301works to archive their data. Group members are still discussing what should happen if a participant’s site closes, he said.

Bit.ly, Twitter’s default link shortener, is participating, along with Cligs, URLizer, urlShort and several others. Tr.im has not yet decided if it will join, Woodward said.

When it closed, tr.im cited the high costs required to keep it running, and said links trimmed through it would still work until the end of the year. It returned after receiving what Eric Woodward, co-founder of tr.im operator The Nambu Network, called “countless public and private appeals.”

- Rachel Metz, AP Technology Writer.

Georgia Corn Ethanol plant could go into bankruptcy

Friday, August 21st, 2009

CAMILLA, GA – First United Ethanol, Georgia’s only corn ethanol facility, could fall into bankruptcy due to limited liquidity, the company warns in a filing with the U.S. Securities and Exchange Commission.

The company opened a $196 million plant close to Camilla in 2008.

The company cited long term debt of $105 million as of June this year in the filing.

Link to the company’s SEC filings: http://tiny.pl/hhsmv

Companies thriving in DC area

Friday, August 21st, 2009

By Stephen Johnson

WASHINGTON, DC – For the 13th consecutive year, the Greater Washington area has the largest number of fastest-growing private companies in America, according to Inc. Magazine.

Greater Washington has 48 companies on the 2009 Inc. 500 list, three more than in 2008 and a dozen more than this year’s second-place New York and Los Angeles (tied at 36). Total revenue for the 48 companies is nearly $1.3 billion, and they collectively employ about 4,100 people.

Topping this year’s overall list is Northern Capital Insurance, a Miami-based firm that is helping to revolutionize Florida’s ailing insurance industry. The company boasted $95 million in revenue in 2008 and an impressive three-year growth rate of 19,812 percent.

Fastest-Growing DC Area Firms

Harley Stanfield, a D.C.-based company in the real estate industry, ranked No. 3 on Inc.’s list of Top 500 Companies, with 2008 revenue of $38.4 million and three-year growth of 13,350.3 percent. Harley Stanfield finances and manages eco-friendly, sustainable residential and commercial rental properties. The company has 22 employees.

Criterion Systems, a Vienna-based company in government sciences, ranked No. 10, with $20.3 million in 2008 and three-year growth of 8,433.7 percent. Criterion Systems provides business and technology strategy consulting, systems integration, and specialized managed services to government and commercial clients. The company has 110 employees.

Centuria, a Dulles-based company, ranked No. 15, with $21.0 million in revenue in 2008 and three-year growth of 5,968.8 percent. Centuria provides IT and complex administrative services to federal government agencies. The company has 106 employees.

Fastest-Growing Area Industries

The top three Washington-area industries are in services: government, information technology and business. Other industries represented include construction, education, health, human resources, manufacturing, software and telecommunications.

Two firms in the Washington area made the list of the 10 fastest-growing female-run companies: Chantilly-based IT services firm ARK Solutions and Kingstowne based government services firm Technical and Project Engineering (TAPE).

Vienna-based government services firm Micro Tech made the list of the 10 fastest-growing Latino and Hispanic-run companies. DC-based government services firm 2Pi Solutions made the list of the 10 fastest-growing firms led by entrepreneurs of Indian descent, as did Criterion Systems and ARK Solutions.

Herndon-based IT services firm CyberData Technologies made the list of the 10 fastest-growing companies led by entrepreneurs of Asian descent.

“Companies Thrive Here”

“The region’s concentration of highly educated workers and smart entrepreneurial managers continue to drive our regional economy forward,” says Matt Erskine, executive director of the Greater Washington Initiative, the regional economic development, marketing and research organization that promotes the area. “Companies that decide to relocate or expand here thrive in our diverse and stable economy and find a healthy environment for growing their business.”

The 2009 Inc. 500/5,000 list measures revenue growth from 2005 through 2008, starting with at least $200,000 in 2005 and reaching at least $2 million in 2008. To qualify, companies must be U.S.-based, privately held and independent — not subsidiaries or divisions of other companies.

HireStrategy has made the Inc. 500/5000 list four consecutive years.

Stephen Johnson is Director of Corporate Communications for HireStrategy. HireStrategy provides consulting services and executive search solutions in the technology, finance and accounting, sales and marketing, human resources and administrative professions.

Blogger seeing an explosion of growth

Thursday, August 20th, 2009

By Allan Maurer
RESEARCH TRIANGLE, NC—The alleged triumph of social networking sites such as Facebook and Twitter over blogging has been greatly exaggerated, suggests Blogger’s business product manager Rick Klau. “When I talked with a New York Times journalist about blogging dying, I told him, if anything, there is an explosion of growth,” says Klau. “We’re seeing more people, more blogs, and more page views than ever before.”

Klau is one of 75 experts, executives, and entrepreneurs participating in TechJournal South’s Internet Summit Nov. 4-5 at the Raleigh Convention Center (see: www.Internetsummit.com for more information or to register.)

Klau says that the direction of all of Blogger’s significant metrics are right where the company likes them, going up. Blogger hosts tens of millions of blogs which generate hundreds of millions of Internet pages a day, with bloggers writing more than 270,000 words a minute every day. Just to give you an idea of how much that is—four typewritten double-spaced pages are about 1,000 words.

Blogger now ten years old
Klau points out that Blogger celebrates its 10th anniversary this year and says the company has spent time looking at the last decade of blogging and thinking about what the next decade is going to look like. “We think we’re seeing a renaissance in blogging,” he says. “And we’re continuing to add new features and partnerships.

Some new features in the works will help bloggers monetize their efforts even more than they can now with Google’s Ad Sense, Klau says.

Being able to make some money from the content they create as opposed to the free sharing on Twitter and Facebook, is one of the attractions blogging retains, he says. He also says that Blogger itself covers its costs “and then some” via advertising.

Another is that the blogger retains control of the presentation of his work.

Not mutually exclusive
“Social media and blogging are often presented as mutually exclusive,” says Klau, himself a well-known blogger, “but they’re actually highly complementary.”

The founders of Blogger also founded Twitter, “So we think highly of them,” he notes. But each format offers different benefits. “There are things easier for me to say on Twitter than to blog,” he says. “Twitter is more real time and blogs are more persistent.”

Twitter itself helps drive traffic to blogs just as they do to media sites, he adds. “Twitter has become one of the largest sources of traffic to my blog,” Klau says. Klau, like many prominent bloggers, including others who will participate in the Internet Summit, such as reputation management expert Andy Beal, notifies people via Twitter when he posts a new blog entry.

Klau previously ran Feedburner’s publisher services team and joined Google when it purchased the company. In 2004, Klau ran Obama’s Illinois Senate campaign blog and in 2008, managed Google’s presence at the Democratic National Convention.

Hackers failed to halt Blogger
The Google-owned service is hosted in such a robust server environment that it remained up and running during the recent hacker attack that brought down Twitter for a day and slowed Facebook.

It was one of the services hit when the Russian hackers tried to silence a Georgian blogger. They did not succeed, He continued using the Blogger service throughout the attack.

Supporting free speech globally is one of Blogger’s missions, Klau says, so the one of the things the company has been seriously considering is how to ensure that such voices are not silenced. “It’s partly a technical discussion and partly a political discussion, one we’ll be more and more vocal about in coming months.”

He notes that China has been blocking the Blogger service since May last year.

Advice to bloggers
Klau offers the following advice for bloggers who want to attract and retain an audience:

–Focus on what you either know a lot about or want to know a lot about. The most successful blogs are the most focused. Picking a category and diving deep leads to success.

–It takes time. There is no magic formula to instant fame and money. You have to invest time to build up an audience.

–Engage with your audience. If they comment on your post, comment back. If someone is saying interesting things, engage them. Read their blog.

Klau says his own blogging has resulted in strong connections, although their nature changed as his blogging has. As he shifted from blogging about politics to technology, some people interested only in politics stopped following him as he gained new readers.

Does he ever hear from President Obama?

“I know a number of people who work for him and I keep in touch with them,” says Klau. “But I’d be a little dismayed if I heard from him. He has more important things to do.”

Online: www.blogger.com; www.Internetsummit.com

DuPont building $55M solar component plant in NC

Thursday, August 20th, 2009

RALEIGH, NC – DuPont plans to build a $55 million solar components plant in Baden County that will create 10 jobs, NC Gov. Beverly Purdue said Thursday.

The company will receive a $50,000 grant from the One North Carolina Fund to support the project.

DuPont currrently employs more than 900 in North Carolina and operates a large campus near Fayetteville.

Mark Cuban on what entrepreneurs should not do

Thursday, August 20th, 2009

DALLAS, TX – Billionaire entrepreneur Mark Cuban says he gets pitched deals daily and on his blog outlines what entrepreneurs should not do.

Cuban offers lessons that range from sending email from a company domain rather than using free accounts such as gmail, to avoiding the suggestion that a startup is going to “save the world.”

“You’re not,” he writes.

Cuban also warns that a lot of empty blather will not win friends, influence people or land an investor.

View the blog post here: http://tiny.pl/hh82w

Nearly half of employers screen social media profiles

Thursday, August 20th, 2009

Watch what you share on those social media sites. A Harris Interactive survey commissioned by CareerBuilder.com says that 45 percent of employers use social networking sites to research job candidates.

Another 11 percent plan to start social media screening in the near future.

The study reports that 35 percent of employers found something on a social network profile that disqualified a candidate for a job.

Sharing about alcohol or drugs, dissing a former employer, or provocative photos or items all caused a significant number of employers not to hire people.

On the other hand, 18 percent of employers said they found something on a social network profile that caused them to hire an employee.

Online: http://tiny.pl/hh8kf

CardioMems secures $22.1M of $29.5M raise

Thursday, August 20th, 2009

ATLANTA – CardioMems, which is commercializing a wireless sensing and communication device to improve management of severe heart disease, has raised $22.1 million of a $29.5 million offering, according to a regulatory filing. Investors include Boston Millennia Partners, Arcapita Ventures, and Foundation Medical Partners.

CardioMems has not yet returned TechJournal South’s call about the raise.

It has raised more than $70 million in venture funding since its 2001 inception from investors who include, in addition to those cited, Other investors included Easton Capital Partners, Boston Millennia Partners, Foundation Medical partners, Medtronic and Johnson and Johnson Development Corp., Arboretum Ventures, Deerfield Capital Management, Vision Capital Advisors, Aperture Venture Partners and Rockport Venture Securities.

The company withdrew a planned IPO in 2007.

CardioMEMS makes minimally invasive sensors that are implanted in the body to provide critical information to doctors. The FDA approved its first product in 2007.

CardioMems withdraws IPO filing: http://tiny.pl/hh8k7

CardioMems Closes $33M round: http://tiny.pl/hh8kt

NetApp names new CEO

Thursday, August 20th, 2009

RESEARCH TRIANGLE PARK, NC – NetApp (Nasdaq:NTAP) named a new president and CEO as it released its first quarter report Wednesday.

The company, which employs about 700 people in Research Triangle Park, named Tom Georgens president and CEO.

He replaces Dan Warmenhoven, 58, who headed the company for the last 15 years. The change was described as part of the company’s “succession process.” Warmenhoven said he plans to retire at age 60.

In the first quarter the company earned $51.7 million or 15 cents a share, up 49 percent from the same period last year.

Union Springs Pharmaceuticals A round bubbles up to $5M

Thursday, August 20th, 2009

UNION, KY – Union Springs Pharmaceuticals, a developer of germ defense products has received additional A round money to bring its total to $5 million. Investors included Cincinnati-based Blue Chip Venture Co.

The company originally developed the Clyns Brand germ defense products initially designed for first responders.

Chairman and founder Roger Griggs said the infusion of cash will enable the company to ramp up the sales and marketing organization to take advantage of the tremendous interest in the company’s products and expand its reach into the healthcare and consumer market segments.

“We have been fortunate to raise capital from multiple funding sources over the years, and it is particularly rewarding to have several local investors join Blue Chip, as well as several investors from outside of the region, to form our cornerstone of participants”
Griggs said.

The company says the Clyns Brands products such as the the T-5000 respirator and the MyClyns personal protection spray it markets gained mainstream popularity after recent H1N1 swine flu breakouts.

Expansion into Canadian and European first responder and consumer markets poises the Northern Kentucky-based company for rapid growth.

Independent laboratory tests have shown a 99% reduction of more than 60 pathogens, including MRSA, within 30 seconds after use of the Clyns germ-fighting spray.

Union Springs Pharmaceuticals also markets a line of P95 disposable respirators with Triosyn antimicrobial technology that are effective against numerous pathogens including the flu virus, bacteria, spores, fungi and protozoa.

Online: www.clynsbrands.com

Atlanta Wi-Fi provider SkyBlox tunes in capital partly through Twitter

Wednesday, August 19th, 2009

By Allan Maurer

ATLANTA—If you accessed the Internet from a restaurant or retail store in Atlanta, you may have used SkyBlox, the largest Wi-Fi provider in the city. SkyBlox has raised a round of capital from SGIO partly facilitated by Twitter. According to a filing with the U.S. Securities and Exchange Commission, SkyBlox was raising a $135,000 round.

SkyBlox Founder and CEO David Payne tells TechJournal South that the total committed by an investor is actually more than that and the company will get the money in several tranches.

According to the SEC filing, the company raised $75,000 so far, but a Tweet by SGIO suggests the first tranche is for $100,000.

The company used another Atlanta start-up, Twitpay, to facilitate a portion of the investment, making it the first ever funded via Twitter, SkyBlox says.

The SkyBlox platform ties existing indoor Wi-Fi together to allow neighborhood businesses to post daily happenings that are seen by 100,000 mobile customers monthly.

The company sells a WiFi router and service that uses a businesses’ existing broadband connection to present users on their premises with a splash page that includes news of current or upcoming events or specials and deals.

The businesses also receive an ad in the neighborhoods sections of the SkyBlox Web site.

The monthly fee is about $50. Payne says SkyBlox has a number of initiatives in the works that it will roll out first in Atlanta. The ten-employee company will also do some “selective” hiring, Payne said, likely in sales.

In 2008 SkyBlox was named one of the four most innovative startups in Georgia.

Payne and others in the company came out of Earthlink’s municipal WiFi team. They founded SkyBlox in 2008.

The company also has operations in several other cities, including Austin, Chicago and Denver.

“SkyBlox’s concept of combining wireless and local content has proven to be an innovative model. Using Twitter for this transaction is just another example of their creative approach,” said Lance Weatherby, an ATDC Startup Catalyst in a statement.

“We’ve been using Wi-Fi for the past year to make our mark on the local online space.” Payne notes that the iPhone has changed things in the mobile world.

“Walk into any restaurant and you’ll see a quarter of the people–families–staring at a mobile device. The world’s chaning,” Payne says.

“This investment allows SkyBlox to build an even more powerful platform to capitalize on the growth of mobile devices and create a sustainable local online business model,” says Payne.

Online: www.skyblox.com